Paypal

Lettingissues77

Hi,

I have begun the process of missing payments (I am planning a self managed DMP.) I had my first payment for PayPal default 03.03, and I have had a message today to say the debt has been passed to Westcot. I am surprised it has happened so quickly, and looking at threads on here PayPal seems to be a bit different to other lenders. I’m assuming I just ignore them until I have a default on my credit account. Like any other debt? Has anyone had any experiences with PayPal credit and what should I expect? 

Thanks 

sourcrates

Since PayPal became FCA regulated last year, they have mostly fallen into line along with most other lenders collection strategy.

They prefer to use Wescott as a collection agent, they may not send a default notice, so keep checking credit files, other than that not a lot else differs.